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How to Buy Western Digital Stock

Western Digital Corp

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally.

Western Digital stock last closed at $75.77, down 0.68% from the previous day, and has increased 97.21% in one year. It has underperformed other stocks in the Computer Hardware industry by 0.12 percentage points. Western Digital stock is currently +112.72% from its 52-week low of $35.62, and -7.09% from its 52-week high of $81.55.

There are currently 326.52M WDC shares outstanding. The market capitalization of WDC is $24.74B. In the past 24 hours, 6.79M WDC shares were traded.

How to Buy Western Digital Stock

Wondering how to invest in Western Digital stock? Here's how.
  1. Decide where to buy Western Digital stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online stock brokerages and apps to help you choose where to buy Western Digital stock.
  2. Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
  3. Put funds into your brokerage account: Select your payment method and add your info.
  4. Research Western Digital stock: The Western Digital ticker symbol is WDC. Is Western Digital stock a good investment? Should you buy shares of WDC? How do WDC's underlying business fundamentals look? Do top analysts think Western Digital is a good buy? Why has WDC's stock price moved recently? (Hint: Our stock market research tools can help you figure out if WDC is a good stock to buy).
  5. Make your WDC buy order: Decide if you will purchase WDC shares at the current market price or use a limit order to buy WDC shares at a specific price.
  6. Get key alerts regarding your investment in WDC: Create a watchlist to monitor your new investment in Western Digital stock.

Step 1: Decide where to buy Western Digital stock

You need an online brokerage account to access the NASDAQ market and buy WDC stock.

A brokerage account allows you to buy and sell a number of financial instruments, such as stocks, bonds, mutual funds, and ETFs.

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Step 2: Create your brokerage account

Now that you've picked your brokerage, you need to fill out some personal details so you are able to invest in WDC stock today.

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  2. Input your personal details to open a new brokerage account.
  1. Submit your information by pressing the "Create Account" button.
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Step 3: Put funds into your brokerage account

Now that you've created your account on the best stock app, your next step is to transfer the money for your investment:

Watch the video below if you need help transferring funds into your brokerage account.

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Step 4: Research Western Digital stock

After you have chosen the best place to buy Western Digital stock, it's critical to analyze their stock prior to buying, so you truly wrap your head around the risk and opportunity.

Western Digital Metrics

WDC Price
$75.77
1w %
-3.01%
1y %
97.21%
5y %
89.24%
P/E
-15x
P/B
2.44x
P/S
2.07x
PEG
N/A
Revenue
$11.91B
Earnings
-$1.62B
Fore. Rev. Growth
16.91%
Fore. Earn. Growth
N/A
Market Cap
$24.74B
Next Earnings
Jul 29, 2024
Next Dividend
N/A

WDC Overview

WallStreetZen was built to help average investors perform better fundamental analysis.

You can view all of the due diligence checks on WDC's stock page.

Is WDC stock properly valued?

You can use many financial metrics, analyses, models, and charts to gauge WDC's true value.

Using relative valuations methods:

  • WDC could be undervalued based on its P/B ratio of 2.44x, relative to Computer Hardware industry P/B ratio of 14.73x

You can access more valuation analysis on WDC's stock here.

A quick look at WDC Financials

Passed Financial Due Diligence Checks:

  • There are more short-term assets than short-term liabilities on the WDC balance sheet.
  • WDC has cash burn of 1023000000. It has sufficient cash and short-term investments to cover this for at least one year.
  • Total WDC debt is lower than 5 years ago, relative to shareholder equity.
  • WDC has $1.89B in cash and short term investments. This is sufficient to cover its annual cash burn of $1.02B.

Failed Financial Due Diligence Checks:

  • There are more long-term liabilities than short-term assets on the WDC balance sheet.
  • WDC profit margin has gone down from -5% to -13.6% in the past year.
  • WDC has a relatively high debt to equity ratio of 1.27.

Do analysts think it's a good time to buy WDC stock

Out of 19 sell side analysts who give forecasts on WDC, the consensus analyst rating on Western Digital is a Strong Buy

It's important to keep in mind that analyst ratings are not stock recommendations, nor are they financial advice.

Latest WDC Analyst Upgrades/Downgrades

Asiya Merchant, a top 11% analyst from Citigroup initiates coverage on WDC with a strong buy rating and announces their WDC price target of $90.00, on May 14, 2024.

Jim Kelleher, a top 4% analyst from Argus Research maintains WDC with a strong buy rating and raises their WDC price target from $68.00 to $88.00, on Apr 29, 2024.

Argus Research's Jim Kelleher raised their price target on Western Digital (NASDAQ: WDC) by 29.4% from $68 to $88 on 2024/04/29. The analyst maintained their Strong Buy rating on the stock.

Responding to the 2024/04/25 release of Western Digital's Q3 2024 earnings report, Kelleher highlighted "the above-consensus revenue and profits, making the quarter the company's first non-GAAP profitable quarter since Q1 2024."

The beats were driven by "memory and data storage demand in the enterprise and cloud markets that appears to be recovering ahead of schedule."

Western Digital is set up "for strong top and bottom-line growth in Q4 and well into FY 2025," the analyst said.

Earnings Report

For Q3 2024, Western Digital reported:

  • EPS of $0.63, which beat the Zacks Consensus Estimate of $0.21 cents and, by 146.3%, Q3 2023's $(1.36).
  • Revenue of $3.457B, which beat the Zacks Consensus Estimate by 3.9% and Q3 2023's $2.8B by 23.5%.
  • Gross margin of 29.3%, up from Q1 2023's 10.6%.
  • Opex of $632M, up 5% Y/Y.

For Q4 2024, management guided:

  • EPS of $0.90 to $1.20. The current Zacks Consensus Estimate is $0.83.
  • Revenues of $3.6B to $3.8B. The current Zacks Consensus Estimate is $3.66B.
  • Gross margin of 32% to 34%.
  • Opex of $670M to $690M.

CEO David Goeckeler commented: "As evidenced by our excellent Q3 results, Western Digital continues to improve through-cycle profitability and dampen business cycles by leveraging our strategy of developing a diversified portfolio of industry-leading products across a broad range of end markets.

“We are in the early innings of unlocking the full potential of this company, and as industry supply and demand dynamics continue to improve, we will remain disciplined around our capital spending and focused on driving innovation and efficiency across our businesses.

"We are confident in our strategy and the actions we have taken to date, which successfully position us to capitalize on the promising growth prospects that lie ahead.”

Amit Daryanani, a top 2% analyst from Evercore ISI Group maintains WDC with a buy rating and raises their WDC price target from $80.00 to $85.00, on Apr 26, 2024.

Matt Bryson, a top 1% analyst from Wedbush reiterates WDC with a buy rating and maintains their WDC price target from $85.00 to $85.00, on Apr 26, 2024.

Joseph Moore, a top 3% analyst from Morgan Stanley maintains WDC with a strong buy rating and raises their WDC price target from $83.00 to $86.00, on Apr 26, 2024.

You can dive deeper into what analysts are projecting on the Western Digital stock forecast page.

WDC Technicals

SMA10
77.76
SMA20
76.6
SMA50
73.4
SMA100
67.61
SMA200
57.45
MACD
1.37
MACD Signal
1.56
MACD Histogram
-0.19
RSI
49.95
Stochastic %K
51.83
Stochastic %D
68.81
StochRSI %K
31.39
StochRSI %D
54.17

Is WDC Making Money?

Last year, WDC revenue was $11.91B. During the past five year, WDC's revenue has grown by -7.98% per year. This was slower than the Computer Hardware industry average of 10.66%.

Learn more about WDC's earnings and revenue performance here.

Are WDC insiders buying or selling the stock?

In the past 12 months, insiders at WDC have sold more shares than they have bought.

Gene M. Zamiska, SVP Global Accounting Chief of WDC, was the latest WDC insider to sell. They sold $17,082.00 worth of WDC shares on Jun 17, 2024.

Research more about who owns WDC shares here.

Does WDC stock generate passive income?

No, Western Digital doesn't provide an income stream by paying out dividends.

What others are saying about WDC

One of the reasons eToro is our favorite brokerage is because of its social trading community.

Click below to see what other traders have to say.

Step 5: Make your WDC buy order

You have two main types of orders:

  • Market order: A market order is an order to buy or sell a stock at the best price on the market.
    Market orders are generally fine for most investors.
  • Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
    If you want to ensure you're buying or selling at a given dollar amount, use a limit order.

Click the Open button and eToro will place the order.

If you require more assistance investing in stocks on eToro, watch the helpful video below:

Open eToro Account

Step 6: Get key alerts regarding your investment in WDC

Now that you own some shares in WDC, you'll want to stay up-to-date on your new company.

Start a watchlist to get notified of the latest news about your WDC stock.

WDC Feed

How to Buy Stock in Western Digital

To summarize, here are the 6 steps to buy stock in Western Digital:

  1. Decide where to buy Western Digital stock
  2. Create your brokerage account
  3. Put funds into your brokerage account
  4. Research Western Digital stock
  5. Make your WDC buy order
  6. Get key alerts regarding your investment in WDC

If you are looking for a place to buy stocks, eToro is our favorite venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to keep tabs on your new investment in Western Digital, get started below.

NASDAQ: WDC
$75.77-0.52 (-0.68%)
Updated Jun 21, 2024
Open eToro Account
NASDAQ: WDC
$75.77-0.52 (-0.68%)
Updated Jun 21, 2024
Open eToro Account

FAQ

How much does it cost to buy one Western Digital share?

As of Jun 21, 2024, it costs $75.77 to buy one share of Western Digital stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $10, you can buy 0.132 shares of WDC.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Western Digital stock?

According to 19 Wall Street analysts who monitor Western Digital, their consensus recommendation is to buy Western Digital stock.

What is the best way to buy Western Digital stock?

One way to place an order for Western Digital stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.